Trading is a difficult occupation that may spring some unpleasant surprises on both beginners and experienced players. Investments efficiency depends not only on tracking and responding to market changes. It’s not less important to protect yourself from shady forex brokers’ cheating risks.
Every year the number of resources that are engaged in trading on the foreign exchange market grows. And every year dozens of them turn out to be frauds. If you are thinking about a career of a trader and want to make money on currency fluctuations, read this article carefully and pay attention to the nuances that we have indicated. Remember: many companies want to get your money and never return it to you, so you should work only with reliable companies that are ready to help you take the first steps in the financial market. Such companies still exist, and although they, unlike scammers, do not promise crazy profits, working with them will bring you much more than, for example, a bank deposit.
Swindlers versus traders: fear of losses worth millions. Can we say, “Key Markets scam?”
It’s difficult to find a good forex broker, like Key Markets forex broker, at the start of the trader career. Swindlers are ready to fling themselves on a would-be “prey” alluring with promises of a huge profit. Some of them, like FXCM, start abusing clients’ confidence over the course of time. In 2016 alone traders losses caused by their actions exceeded 15 billion dollars mark, and they increase every year. The answer to the question “Key Markets scam?” No, Key Markets reviews has gained an excellent reputation
It’s impossible to prevent emerging of a great number of shady brokers – they can easily be anonymous on the Internet, and many deceived clients don’t even lodge official complaints. Financial regulators solve only part of problems, and they by no means always succeed in recovery of losses (as in the case of IBS Capital). Therefore, it’s easier to carry out some preliminary preparations and not to start working with swindlers.
Who are swindler forex brokers, how can they be distinguished and avoided. Key Markets reviews.
For honest and reliable brokers, like Key Markets forex broker, it’s unacceptable to cheat and make clients suffer losses. But shady brokers can unhesitatingly:
- embezzle all clients’ money;
- make deals at non-market prices;
- trade against “their” traders’ orders;
- delay money withdrawal for an indefinite period;
- take huge spreads, commission charges and fees;
- hinder in efficient managing of deposited money;
- postpone orders execution until it’s favourable for them;
- compel to use dubious or useless tools at extra cost;
- make money withdrawal procedure near-impossible due to excessive checks, confirmations, fees, etc.
If you work with proven brokers, like Key Markets broker, you don’t come across dishonest attitude and trading hindrances.
Often, shady brokers can be distinguished due to offers that are too good to be true:
- practically immediate huge profit;
- automatical and hundred-per-cent successful trading systems;
- big bonuses for the simplest actions.
Some brokers can offer promotions and bonuses, but the best companies attract traders with a high-quality service.
Key Markets scam or a good partner? Reliability criteria
You can exclude lots of swindler companies right at the stage of getting to know. For this, you should pay attention to:
- Company’s age. If a broker was registered more than a year ago, this usually means that it has already passes the first major step of its development and is ready for further achievements. Age seriously increases the level of trust.
- Online reviews allow to get an idea of the company’s work. For instance, as in case of Key Markets reviews are one of the best of information sources. Also awards published on brokers’ sites are of interest. They should be checked for “freshness” (they shouldn’t be too old), and issuing organizations – for trustworthiness.
- If you can’t find detailed and clear information on the broker’s site, it’s not recommended to work with it. It is held that the best candidates for cooperation are resources showing minimal spreads, average spreads and marginal demands for each currency pair. Also, confidence gets higher with distinct information on expenses, company’s actual address and active technical support.
Webpage offers may be interesting and attractive, but they don’t substitute a confirmed registration. But with the help of them you can see with half an eye whether it’s there any use generally in contacting with a broker. There’s no point in starting using resources with:
- nothing but loose, advertising and inaccurate information;
- factual and spelling errors;
- bad, old-dated, or too trite graphics.
Trust your intuition. If you feel that something’s wrong with a site, you should study a broker with more attention. In this case chance of revealing of a swindler is serious.
Sometimes swindlers cunningly disguise as trustworthy companies. They can create attractive sites with useful and right information from other sources. They can even have offices and technical support.
Key Markets forex broker bringing no fear
If the risk of coming across a swindler is so high, who is to entrust your money to in the end? The best solution is a company with working experience, long history, absence of lots of negative comments. It should function only within the legal framework and provide processes transparency.
What Key Markets broker offers:
- trade optimization programs (including user ones);
- several grades of startup investments;
- support of a manager and analysts;
- immediate deposition and withdrawal of money;
- user-friendly and fast site;
- tutorial materials;
- trade according to daily news;
- and so on.
Key Markets forex broker which is interested in prosperity and development of clients (thanks to them it achieves and preserves reputation). The company makes every effort to provide fast, convenient and honest trading, without any impairment of clients’ interests. Learn about cooperation conditions and join.